Total US wine exports in 2018 fell by 4.8% to $1.47bn, said the California-based Wine Institute.
That is the most minimal aggregate since 2013 yet at the same time well over the $963m in exports reported a decade ago, in 2008, demonstrates the Institute’s figures.
In volume terms, the decline in 2018 was less steep. Shipments fell by 1.2% versus 2017, to the equivalent of 41.7m cases.
China weakens
Industry leaders blamed a trade dispute between the US and China for reversing some of the gains made in the Chinese market in recent years.
US wine fares to China sank by about 25% in an incentive in 2018, to $59.3m, with volumes down 13%.
China remains the fifth greatest market by an incentive for US wine far and wide and the Institute said it was as yet playful about the long haul prospects there.
Exports to Hong Kong, which are counted separately, rose by 10% in 2018 to $129.8m. ‘Plainly a portion of these wines are being re-sent out to different nations, including Mainland China,’ said the Institute.
Big Gains
Vietnam and Nigeria emerged as the rising stars of 2018, with fares to those nations up by 51% and 247% individually in esteem terms, as the table underneath shows.
Volume growth in the UK
Exports to the UK fell by around 1.4% in value but rose by 15% in volume versus 2017, said the Institute.
‘This is a great outcome thinking about that the British pound (GBP) shut the year at $ 1.26 against the U.S. dollar versus its pre-Brexit purchasing intensity of $ 1.55 or higher,’ said Damien Jackman, the Wine Institute’s exchange executive for the UK and Ireland.
‘These money headwinds affected the esteem/volume blend of numerous shippers. In the meantime, volume development has come about because of developing exchange intrigue and offers of Californian wines under £20.’
